I-T dept accuses Hinduja Global Solutions of Rs 2,500 crore tax evasion

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I-T dept accuses Hinduja Global Solutions of Rs 2,500 crore tax evasion - Business Standard

Quick Summary:

If the tax authorities send notices, they would be legally contested as per prevailing procedures and laws,” the official said, as mentioned by the report.

The report quoted a senior official as saying that the investigation has concluded, and the merger served no other purpose but to avoid taxes.

According to the Income Tax Department’s findings, NXT Digital was a loss-making entity, and the merger was designed solely to evade taxes and capital gains, the report said.